AFME responds to consultation on FCD reform

Article summary

The Association for Financial Markets in Europe (AFME) has published its response to the consultation on the review of the Financial Collateral Directive (FCD). Among other things, AFME has said it believes the personal scope of the FCD should be amended to include payment institutions, e-money institutions and central securities depositories, that there should be flexibility in the ways in which financial collateral can be evidenced in writing when it is provided separately from its financial instrument, and that collateral other than cash, financial instruments and credit claims should not be made eligible under the FCD.